JAKARTA, Indonesia, Nov. 16, 2022 /PRNewswire/ -- PT Bank Rakyat Indonesia (BRI) Persero Tbk. (IDX: BBRI) recorded a net profit of IDR 39.31 trillion in Q3 2022. "In 9 months, BRI managed to record 106.14% Year-on-Year (YoY) net profit growth with total assets increasing 4.00% YoY to IDR 1,684.60 trillion," conveyed Sunarso, President Director of BRI.
Left to Right: Agus Sudiarto, Risk Management Director BRI; Sunarso, President Director BRI; Viviana Dyah Ayu, Chief Financial Officer BRI.
In Q3 2022, BRI's total loans and financing reached IDR 1,111.48 trillion (7.92% YoY growth). BRI's MSME loan portfolio increased by 9.83% YoY from IDR 852.12 trillion in Q3 2021 to IDR 935.86 trillion in Q3 2022, making the proportion of MSME loans to 84.20%.
"Considering that 97% of jobs in Indonesia come from the MSME segment, BRI will continue to encourage the recovery and growth of the Indonesian economy by empowering MSMEs to continue to grow thus opening jobs for the community," said Sunarso.
BRI's success in carrying out the intermediary function, balanced with good risk management, was reflected in BRI's consolidated NPL ratio of 3.09%. BRI's NPL coverage was recorded at 278.79%, increasing from Q3 2021's of 252.86%. BRI's ability to maintain asset quality was also reflected in the declining Loans at Risk of 19.28% in Q3 2022, compared to last year's 25.62%.
Furthermore, BRI's third-party funds (DPK) recorded growth to IDR 1,139.77 trillion in Q3 2022 with Low-cost funds (CASA) being the main growth driver of BRI's DPK growth. The proportion of consolidated CASA was recorded at 65.43%, increasing from 59.60% in Q3 2021.
In line with the G20's priority issues, BRI is committed to become a 'Champion of Financial Inclusion' by 2025. "BRI has prepared a hybrid bank strategy to encourage financial that include the Ultra-Micro (UMi) Ecosystem Integration and expansion of BRILink Agent services," added Sunarso.
Since its establishment, the UMi Holding has had positive impacts on Indonesia's economy, integrating 28.1 million customers with a total outstanding financing of IDR 196.6 trillion. The UMi Service Center co-location or "Senyum", reached 1,003. In addition, PNM Mekaar's customers, now members of BRILink Agents, have reached 47.2 thousand and served roughly 799 million financial transactions, with a transaction volume of IDR 963 trillion.
"BRI will continue to maintain positive performances to continue to grow and become more resilient," concluded Sunarso.
For more information about Bank BRI, visit www.bri.co.id.
Source: PT Bank Rakyat Indonesia Tbk (BRI) Related Stocks: Jakarta:BBRI OTC:BKRKY